AGCO (NYSE:AGCO) Shares Gap Down to $118.04

Shares of AGCO Co. (NYSE:AGCOGet Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $118.04, but opened at $114.83. AGCO shares last traded at $113.88, with a volume of 245,518 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AGCO shares. Oppenheimer dropped their price objective on AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Truist Financial dropped their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.83.

View Our Latest Stock Analysis on AGCO

AGCO Stock Up 0.4 %

The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 0.69 and a beta of 1.32. The firm has a fifty day simple moving average of $117.66 and a 200-day simple moving average of $117.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99.

AGCO (NYSE:AGCOGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the business posted $3.51 earnings per share. As a group, sell-side analysts expect that AGCO Co. will post 12.05 EPS for the current year.

AGCO Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a $0.29 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AGCO. Strs Ohio increased its stake in AGCO by 0.7% during the 4th quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after acquiring an additional 87 shares during the period. Nkcfo LLC raised its stake in AGCO by 20.5% in the third quarter. Nkcfo LLC now owns 530 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 90 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in AGCO by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock valued at $654,000 after purchasing an additional 91 shares in the last quarter. State of Michigan Retirement System lifted its position in AGCO by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after purchasing an additional 100 shares during the period. Finally, Denali Advisors LLC grew its stake in AGCO by 50.0% during the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Company Profile

(Get Free Report)

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.

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